Methods for reducing buyer perceived risk related to the adoption of technological innovations Online publication date: Fri, 30-May-2014
by Samuli Patala; Anne Jalkala; Risto Soukka
International Journal of Procurement Management (IJPM), Vol. 7, No. 1, 2014
Abstract: Industrial technology suppliers marketing and selling technological innovations need to be able to reduce buyer perceived risk. Innovation buyers face high perceived risks, especially in the initiation and implementation phases of innovation adoption. We deliver insights on risk reduction tools by examining the case of a monitoring system innovation designed to enhance process efficiency in an electrolytic copper refining process. We examine the case from both the buyer and seller perspective and propose concrete methods that sellers can employ to reduce buyer perceived risk. At the initiation phase, we illustrate a life cycle-based tool for performance assessment. In the implementation phase, we identify three key supplier processes namely adaptation, championing, and cooperative implementation that may facilitate the buying firm's successful implementation of the innovation. The findings provide more in-depth understanding about the role of risk reduction in the marketing and procurement of technological innovations.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Procurement Management (IJPM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook